State of Alaska Department of Revenue Buys 520 Shares of Regal Rexnord Co. (NYSE:RRX)

State of Alaska Department of Revenue boosted its position in Regal Rexnord Co. (NYSE:RRX) by 7.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,714 shares of the company’s stock after buying an additional 520 shares during the period. State of Alaska Department of Revenue’s holdings in Regal Rexnord were worth $1,279,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of Regal Rexnord by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company’s stock valued at $10,515,000 after acquiring an additional 4,342 shares in the last quarter. Blair William & Co. IL raised its holdings in Regal Rexnord by 161.4% during the first quarter. Blair William & Co. IL now owns 7,770 shares of the company’s stock worth $1,399,000 after buying an additional 4,798 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Regal Rexnord by 18.6% during the first quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company’s stock worth $54,486,000 after buying an additional 47,379 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Regal Rexnord by 1,036.4% in the first quarter. Daiwa Securities Group Inc. now owns 10,773 shares of the company’s stock valued at $1,940,000 after buying an additional 9,825 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in shares of Regal Rexnord by 64.4% during the first quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company’s stock valued at $84,012,000 after buying an additional 182,770 shares during the last quarter. 99.72% of the stock is owned by institutional investors and hedge funds.

Regal Rexnord Stock Up 1.5 %

RRX opened at $169.02 on Monday. Regal Rexnord Co. has a twelve month low of $97.18 and a twelve month high of $183.85. The company’s 50-day moving average price is $165.12 and its two-hundred day moving average price is $156.03. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of -8,451.00, a PEG ratio of 1.76 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.83%. Regal Rexnord’s payout ratio is -7,000.00%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RRX. Robert W. Baird upped their target price on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Loop Capital reiterated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Citigroup initiated coverage on shares of Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective on the stock. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.63.

Regal Rexnord Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.